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Europe’s Next Big Step

Chris Hall

Supervisory authority ESMA is calling for EU-wide stewardship code to hone and standardise investors’ engagement efforts and disclosures. There’s also the stewardship code introduced by the European Fund and Asset Management Association (EFAMA), which was first adopted in 2011.

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Government Delay of ARGA Leaves FRC Toothless

Chris Hall

In March, the FRC updated its ‘ Approach to Audit Supervision ’ document, which outlines how it supervises audit firms. The document now includes a Public Interest Entities Auditor Registration, supervisor letters, and Single Quality Plans. At the time of writing, the FRC has not responded to a request for comment.

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Voting Policies Offering Asset Owners Closer Scrutiny

Chris Hall

However, the funds, data and analytics provider also found that asset managers are being increasingly transparent in advance of voting, through stewardship reports, more granular policy statements and more specific voting guidance.

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Take Five: US AGs Cast a Long Shadow

Chris Hall

This may be tested soon, given the AGs also demanded documents relating to the insurers’ membership of the Net Zero Asset Owner Alliance , to which several major insurers also belong. End of the line? – The post Take Five: US AGs Cast a Long Shadow appeared first on ESG Investor.

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Growth over Governance

Chris Hall

Rules of engagement Closely linked to Listings Rules revamp in the eyes of asset owners is the Financial Reporting Councils (FRC) proposed changes to the UK Stewardship Code, which now numbers 297 signatories, representing 52.3 trillion assets under management.

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FRC Stewardship Reframing Risks “Ambiguity”

Chris Hall

Proposed revision to stewardship definition seen as potentially weakening ambition and fostering distance between investment decisions and their impacts. A tweak to the Financial Reporting Council’s (FRC) definition of stewardship in a proposed update to the UK Stewardship Code has been received with alarm by asset owners and managers.